In an effort to improve their economic and trade connections, the Kingdom of Saudi Arabia and the Republic of Djibouti are developing a new marine venture.
According to the Saudi Press Agency (SPA), the foundation of this collaboration is the creation of key shipping lines with the goal of enhancing connectivity with East African markets, which are home to some 500 million people.
The most notable initiative in this cooperation is the creation of a Saudi logistics zone inside the Djibouti International Free Trade Zone, which is situated outside of the nation’s capital.
The agreement reached in June of last year, which was a calculated move to promote Saudi product exports and fortify bilateral economic ties, is what led to this qualitative improvement.
The 92-year contract that Djibouti and Riyadh inked includes a 120 thousand square meter first phase and holds significant revolutionary potential for the two nations’ economy.
A workshop titled “Activating the Maritime Routes between Jazan City and the Republic of Djibouti” was organized on August 7 in an effort to promote this project.
The Jazan Chamber of Commerce Chairman, Mr. Ahmed Abu Hadi, was among the many notable people in attendance at the workshop, which was arranged by the Federation of Saudi Chambers, the Ministry of Transport and Logistics in the Kingdom, and the Jazan Chamber of Commerce.
In addition to addressing available incentives and exploring investment opportunities, the workshop covered the difficulties Saudi investors face in accessing the Horn of Africa. It also highlighted Jazan City for Basic and Transformative Industries as a significant export platform, handling roughly 13% of global trade.
Container handling, warehousing, customs clearance, and transportation are among the services and solutions offered at Hutchison Ports’ facilities in Jazan.
It is noteworthy that Djibouti and the Kingdom of Saudi Arabia work closely together to ensure safe passage through vital waterways including the Gulf of Aden and the Bab al-Mandab Strait.
